Results of The Dawes Plan
The Dawes Plan provided short-term economic benefits to the German economy and softened the burdens of war reparations. By stabilizing the currency, it brought increased foreign investments and loans to the German market. But, it made the German economy dependent on foreign markets and economies. As the U.S. economy developed problems under the Great Depression, Germany and other countries involved economically with it also suffered. The Allies owed the US debt repayments for loans.
After World War I, this cycle of money from U.S. loans to Germany, which made reparations to other European nations, who paid off their debts to the United States, locked the western world's economy into that of the U.S.
Dawes shared the Nobel Peace Prize in 1925, in recognition of his work on the Plan.
Read more about this topic: Dawes Plan
Famous quotes containing the words results of the, results of, results and/or plan:
“Consider what you have in the smallest chosen library. A company of the wisest and wittiest men that could be picked out of all civil countries in a thousand years have set in best order the results of their learning and wisdom. The men themselves were hid and inaccessible, solitary, impatient of interruption, fenced by etiquette; but the thought which they did not uncover in their bosom friend is here written out in transparent words to us, the strangers of another age.”
—Ralph Waldo Emerson (1803–1882)
“It would be easy ... to regard the whole of world 3 as timeless, as Plato suggested of his world of Forms or Ideas.... I propose a different view—one which, I have found, is surprisingly fruitful. I regard world 3 as being essentially the product of the human mind.... More precisely, I regard the world 3 of problems, theories, and critical arguments as one of the results of the evolution of human language, and as acting back on this evolution.”
—Karl Popper (1902–1994)
“If family communication is good, parents can pick up the signs of stress in children and talk about it before it results in some crisis. If family communication is bad, not only will parents be insensitive to potential crises, but the poor communication will contribute to problems in the family.”
—Donald C. Medeiros (20th century)
“We saw the machinery where murderers are now executed. Seven have been executed. The plan is better than the old one. It is quietly done. Only a few, at the most about thirty or forty, can witness [an execution]. It excites nobody outside of the list permitted to attend. I think the time for capital punishment has passed. I would abolish it. But while it lasts this is the best mode.”
—Rutherford Birchard Hayes (1822–1893)